Vaximm and BCME link on oral cancer immunotherapy platform

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OSR Company Vaximm has signed a non-binding term sheet with Swiss-based life sciences investor BCM Europe (BCME) for a potential exclusive worldwide licence for Vaximm’s oral cancer immunotherapy platform, VXM01.

The agreement includes an exclusivity period of six months for negotiating and finalising a definitive agreement, pending due diligence and board approvals.

Vaximm is eligible for an upfront payment of $20m and could earn up to $815m in commercial, clinical and regulatory milestone payments.

BCME would transfer the commercial royalties it obtains from any pharmaceutical partner after recovering milestone differentials via a defined delta-recovery mechanism.

BCME would serve as a financial intermediary and will fund development and partnering activities to obtain a global out-licence with a significant pharmaceutical company.

This framework resembles the financing models employed by companies such as Blackstone Life Sciences and Royalty Pharma, which offer capital to biotech developers in return for milestone-based returns or royalties.

Vaximm incoming CEO Andreas Niethammer stated: “This term sheet marks an important step forward for Vaximm and our VXM01 oral T-cell immunotherapy platform.

“The contemplated collaboration with BCM Europe would accelerate development and global commercialisation of VXM01, while allowing us to retain full ownership of our intellectual property and continue our mission to deliver innovative immunotherapies to patients worldwide.”

The term sheet further outlines a mechanism for royalty participation based on blockchain technology, utilising TAC tokens.

If Vaximm chooses capital from the BCM Royalty Fund, a designated share of future royalties may be allocated to TAC token holders; otherwise, royalties would be distributed exclusively through BCME.

During the exclusivity period, BCME and Vaximm will collaborate on partnering materials preparation, due diligence and finalising the licence structure.

Vaximm retains full intellectual property rights and BCME would obtain exclusive global rights only upon execution of an agreement.

"Vaximm and BCME link on oral cancer immunotherapy platform" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand.

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